SunSirs: The Domestic Urea Market Fluctuated (November 21-28)

Price trend:

According to the commodity market analysis system of SunSirs, as of November 28, the average reference price of urea in the domestic market was 1,657 RMB/ton, compared with the average reference price of 1,655 RMB/ton on November 21, the price of urea in the domestic market rose by 0.15% last week.

Market Analysis

Market Situation

Domestic urea prices fluctuated upwards last week. The rise in urea futures prices boosted the spot market. As of November 28th, urea prices in Shandong were around 1,600-1,670 RMB/ton, in Hebei around 1,610-1,680 RMB/ton, in Henan around 1,600-1,660 RMB/ton, in Hubei around 1,640 RMB/ton, and in Liaoning around 1,720 RMB/ton.

Supply and Demand Situation

Last week, the domestic urea market saw ample supply and increased demand. On the supply side, daily urea production remained high, with both maintenance and restart operations occurring at urea plants. On the demand side, industrial demand was primarily for essential needs, while agricultural demand for urea during spring planting was gradually being released

Market outlook

According to analysts at SunSirs, the urea market recently saw a strong upward trend. As of November 28th, trading in the urea market was moderate, with downstream buyers purchasing as needed and winter stockpiling demand steadily increasing. It is expected that the domestic urea market price will mainly fluctuate and consolidate in the short term.

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